Monday, October 09, 2006

Matria Healthcare (MATR) Lower on Rumors of Contract Loss

Shares of Matria Healthcare Inc. (Nasdaq: MATR) are under pressure today on rumors the company could have lost all or parts of the Unitedhealth Group Inc. (NYSE: UNH) contract. Apparently this was mentioned in a report from independent research firm Off Wall Street (we have not seen the report.) A contact we spoke with said the rumor may have some teeth, but the company stated that no single customer is more than 10% of their business - however UNH could be one of the larger contracts. No one at the company was available to comment.

Shares of Matria Healthcare are over 13% lower in afternoon action.


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